One of the worst examples of unnecessary U. S. subsidies is the silver purchase program. Under it a little group of Western silver producers has milked the U. S. Treasury of more than $197,949,383 in the last five years. Four and a half times that sum, $912,822,539, has been handed out to British, Chinese, Japanese, Mexican and other foreign peddlers.
On the Labor Department's list of 784 commodities, silver's importance is rated at .07 of 1%. The chewing gum industry's output is twice as valuable as silver mining. Silver though supported, productionwise is only as...
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